While many traditional banks have been hesitant to embrace crypto, BMO just went all-in on Bitcoin ETFs. The Canadian banking giant didn’t just dip its toes in the water – it dove headfirst into the deep end with a massive $150 million investment, revealed through a recent SEC filing. That’s not a typo. We’re talking about a mind-boggling 1053.85% increase from their previous $13 million position. Talk about making a statement.
The bulk of BMO’s crypto bet landed squarely in BlackRock’s iShares Bitcoin ETF (IBIT), with $139 million allocated to the industry leader. The remaining $11 million got spread around like party favors among other major players – Ark 21Shares, Grayscale, and Fidelity all got a piece of the action. Oh, and they threw a measly $17,000 at ProShares’ Bitcoin futures ETF, almost like an afterthought. The Canadian ETF industry’s remarkable achievement of $64.03 billion in net inflows for 2024 suggests this trend is part of a larger movement.
This isn’t just another day at the office. Canada’s third-largest bank by assets is making waves in a market where IBIT already dominates with $57.03 billion in assets under management. The Form 13F-HR filing was submitted to the SEC on February 14, 2025. The crypto ETF landscape is no small potatoes – Fidelity’s FBTC manages $20.57 billion, Grayscale’s GBTC holds $19.44 billion, and Ark 21Shares’ ARKB controls $4.94 billion. Even ProShares’ BITO leads the futures market with $2.76 billion. With 21,000 cryptocurrencies now existing globally, regulated ETFs offer a safer entry point for institutional investors.
BMO’s move speaks volumes about institutional interest in cryptocurrency. They’re not messing around with direct crypto exposure or complex derivatives – they’re going straight for regulated ETF products. It’s like watching your straight-laced uncle suddenly show up at thanksgiving with a motorcycle and leather jacket.
The message is clear: traditional banking is warming up to crypto, but on its own terms. This quantum leap in holdings isn’t just about numbers – it’s a signal that the walls between traditional finance and cryptocurrency are starting to crumble. One bank at a time, one ETF at a time.
